Transparency Market Research in its new report titled, “Hydrobromic Acid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the hydrobromic acid market. The TMR report anticipates that the rise in demand from numerous end-use industries will drive the hydrobromic acid market steadily during the forecast period i.e, 2018-2026. Hydrobromic acid is used on a wide scale in industries for the production of inorganic bromides such as bromides of calcium, sodium, and zinc. It is useful for the synthesis of alkyl bromides through the use of alcohol. Hydrobromic acid is used in oxidation processes where peroxides, ketones, and acids are obtained from aliphatic and acyclic hydrocarbons by conversion. It is also used widely as a catalyst in industrial processes such as dehydration, esterification, isomerization, hydration, and even polymerization.
Hydrobromic acid finds a varied range of application as a catalyst in the manufacturing processes of several industries, which is anticipated to boost the market in the near future. Hydrobromic acid is heavily used in the production of bromides such as calcium bromide, sodium bromides, and zinc bromide. These bromides are further used in various industries; for example, calcium bromide has applications in the medical industry in neuroses medication and in the food industry as food preservatives and freezing mixtures. Sodium bromide is employed in the petroleum industry for the preparation of dense fluids used in oil wells. It also has major applications in the medical industry as an anticonvulsant, hypnotic, and sedative. Zinc bromide is used as an electrolyte in zinc bromide batteries. It is also extensively used in the nuclear-energy and nuclear-medicines industries as a transparent shield against radiation through integration in the windows of hot cells (chambers useful for protecting individuals from radioactive isotopes). Despite being highly corrosive, hydrobromic acid cannot be substituted efficiently with another chemical in terms of its catalytic functions. This is a major growth opportunity for hydrobromic acid market during the forecast period, as per the report.
According to the TMR report, Asia Pacific, North America, and Europe represent the major key markets for hydrobromic acid in the present as well as in the near future. Currently, the hydrobromic acid market is developing rapidly in Asia Pacific, especially in China. As the products obtained by reacting different reagents with hydrobromic acid are being commonly used in different industries such as medical, food, nuclear energy, and nuclear medicine, it is estimated that the demand for hydrobromic acid is projected to increase in the developing countries in the near future. The report from TMR states that the global hydrobromic acid market is dominated by major players who have presence across the value chain. The hydrobromic acid market is considered a mature and rapidly growing market in China and internationally. Major players operating in the hydrobromic acid market are profiled in this report and these include Albemarle Corporation, Chemtura Corporation, Jordan Bromine Co., Ltd, Tosoh Corporation, Tata Chemicals, Shandong Haiwang Chemical Co., Ltd, Shandong Tianyi Chemicals Co., Ltd, and Shandong Tianxin Chemical Co., Ltd.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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